HOOD — what changed in the latest 10-Q
A section-by-section comparison of HOOD's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-07-30 vs the prior 10-Q · 2026-04-29
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +47 | −33 | ~24 | 29 |
| Market risk (Item 3) | Text added/removed | +1 | 0 | ~2 | 7 |
| Controls & procedures | Text added/removed | +1 | 0 | ~1 | 2 |
| Risk factors | Some risk factors updated | +142 | −120 | ~96 | 258 |
| Other information | Text added/removed | +1 | −2 | 0 | 0 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Not shown (absent or not faithfully extractable): Legal proceedings
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-07-30
•Net Deposits were $21.7 billion, which translates to an annualized growth rate of 28% relative to Total Platform Assets at the end of the first quarter of 2026, compared to $13.8 billion, which translates to an annualized growth rate of 25% relative to Total Platform Assets at the end of the first …
On June 16, 2026, we announced a reduction in force as part of our efforts to maintain a high performance culture, further accelerate product velocity, and remain lean and disciplined. This reduction in force involved approximately 10% of our full-time employees, and additionally involved the closur…
(1) The $106 million gain from deconsolidation excludes a $17 million unrealized gain recognized in net income earlier in the current period, which was reflected in the carrying value of RVI at deconsolidation and is presented separately as a realized gain.
(2) For the three and six months ended June 30, 2026, primarily related to investments held by RVI.
(in millions, except for percentages)20252026% Change20252026% Change
Text removed vs the prior filing · source: 10-Q · 2026-04-29
•Net Deposits were $17.7 billion, which translates to an annualized growth rate of 22% relative to Total Platform Assets at the end of the fourth quarter of 2025, compared to $18.0 billion, which translates to an annualized growth rate of 37% relative to Total Platform Assets at the end of the fourt…
In April 2026, we announced that Robinhood will serve as broker and sole initial trustee for the Trump Accounts on behalf of the U.S. Department of the Treasury. Robinhood will work with BNY, which has been selected by the U.S. Department of the Treasury as financial agent for Trump Accounts, to dev…
Transaction-based revenues increased by $40 million, primarily driven by increases of $101 million in event contracts, $26 million in equities, and $20 million in options, partially offset by a decrease of $118 million in cryptocurrencies.
Event contracts revenues increased primarily due to an acceleration in our prediction markets business, reflecting higher trading activity compared to Q1 2025 when the offering was still in its early stage. The increase was partially offset by a $6 million increase of certain match incentives paid t…
Equities revenues increased as a result of a 45% increase in the average Notional Trading Volume traded per trader and a 2% increase in the number of users placing equity trades. The increase was partially offset by lower equity rebate rates due to the mix of ticker symbols traded as different ticke…
Market risk (Item 3)
Text added vs the prior filing · source: 10-Q · 2026-07-30
effectiveness of our hedging strategies. Interest rate instruments will be used for hedging purposes only and not for speculation.
Controls & procedures
Text added vs the prior filing · source: 10-Q · 2026-07-30
On June 1, 2026, we acquired WonderFi as discussed in Note 3 – Business Combinations, to our unaudited condensed consolidated financial statements in this Quarterly Report for further information. We are in the process of evaluating and integrating WonderFi into our system of internal control over f…
Risk factors
Text added vs the prior filing · source: 10-Q · 2026-07-30
•Our launch of Stock Tokens globally, continued offering of Classic Stock Tokens and perpetual futures trading in the EEA, and updates to Robinhood Wallet to allow eligible users in selected jurisdictions to access Stock Tokens and decentralized perpetual futures via a third-party decentralized exch…
should not rely on our revenue or key business metrics for any previous quarterly or annual period as any indication of our revenue, revenue growth, key business metrics or key business metrics growth in future periods.
We might experience declines in the growth of our business (or negative growth) as a result of a number of factors, including slowing demand for our platforms, insufficient growth in the number of customers that utilize our platforms, declines in the level of usage of our platforms by existing custo…
Such efforts to control costs have in the past resulted, and might in the future result, in reduced productivity and deteriorating workforce morale, which can cause our business initiatives to suffer. However, as market conditions improve, we also face a risk that renewed business growth could strai…
We have also encountered, and will continue to encounter, risks and difficulties frequently experienced by companies in rapidly changing and heavily regulated industries, including challenges associated with achieving market acceptance of our products and services, attracting and retaining customers…
Text removed vs the prior filing · source: 10-Q · 2026-04-29
subsidiaries could adversely affect our business, financial condition, results of operations, and reputation.
•Our introduction of Robinhood Stock Tokens and crypto-asset perpetual trading in the EEA may expose us to significant regulatory, litigation, contractual, operational, and reputational risks.
We might experience declines in the growth of our business (or negative growth) as a result of a number of factors, including slowing demand for our platforms, insufficient growth in the number of customers that utilize our platforms, declines in the level of usage of our platforms by existing custo…
As part of our ongoing efforts in the normal course of business, we also continuously evaluate whether we are appropriately staffed to be cost efficient. From time to time, we have reduced our staff in certain departments as we saw increased productivity and opportunities for greater efficiency unde…
Such efforts to control costs have in the past resulted, and might in the future result in reduced productivity and deteriorating workforce morale, which can cause our business initiatives to suffer. However, as market conditions improve, we also face a risk that renewed business growth could strain…
Other information
Text added vs the prior filing · source: 10-Q · 2026-07-30
Certain of our officers may, from time to time, make elections to participate in our ESPP and to have shares withheld to cover withholding taxes or pay the exercise price of options, which may be designed to satisfy the affirmative defense conditions of Rule 10b5-1 under the Exchange Act or may cons…
Text removed vs the prior filing · source: 10-Q · 2026-04-29
On March 12, 2026, Jeffrey Pinner, our Chief Technology Officer, adopted a “Rule 10b5-1 trading arrangement” (as defined in Item 408(a) of Regulation S-K) intended to satisfy the affirmative defense of Rule 10b5-1(c) under the Exchange Act pursuant to which he may sell shares of our Class A common s…
In addition, certain of our officers may, from time to time, make elections to participate in our ESPP and to have shares withheld to cover withholding taxes or pay the exercise price of options, which may be designed to satisfy the affirmative defense conditions of Rule 10b5-1 under the Exchange Ac…
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice